Using the financial statement provided (an Excel spreadsheet with the data is available on Blackboard),. prepare...

 

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Using the financial statement provided (an Excel spreadsheet with the data is available on Blackboard),. prepare a complete Statement of Cash Flows that shows both the direct method and the indirect method for summarizing cash flow from operating activities. Note to complete the assignment you will need to calculate items such as dividends paid (Retained Earnings & AOClar9 - Net income2019 - Retained Earnings & AOCI2018) and capital expenditures (Net PP&E2018 – Book Value of PP&E Sold019 - Depreciation Expense2019 - Net PP&E2019). Please submit your work via the assignment submission feature in Blackboard. Balance Sheets Income Statement (millions) Cash & equivalents Accounts receivable, net Inventories Other current assets Total current assets Property, plant, & equipment, gross Less: Accumulated depreciation Property, plant, & equipment, net Right-of-use leased assets Other long-term investments Goodwill Other intanqible assets Other noncurrent assets Total assets (millions) Sales 1,100.0 Less: Cost of goods sold Gross profit 2019 $2,577.0 $1,556.0 1,262.0 8,992.0 371.0 13,202.0 45,547.0 44,220.0 Operating profit (EBIT) 19,664.0 25,883.0 2,536.0 137.0 633.0 53.0 635.0 $43.079.0 $41.540.0 2018 2019 $78,112.0 54,864.0 23,248.0 16,163.0 2,357.0 4,728.0 467.0 (18.0) (41.0) 4,202.0 921.0 $3,281.0 9,497.0 366.0 Less: Selling, gen. & admin. expenses 12,519.0 Less: Depr. & amort, expenses 18,687.0 Less: Interest expense 25,533.0 2215.0 10.0 633.0 Other income (expense) Gain/(loss) on sale of assets Earnings before tax Less: Income tax expense Net income 66.0 564.0 Current portion of long-term debt Short-term debt (notes payable) Current operating lease liabilities Accounts payable Other accrued expenses Deferred revenue Other current liabilities Total current liabilities Long-term debt Long-term operating lease liabilities Deferred taxes Other long-term liabilities Total liabilities Common stock and add. paid-in capital Retained earnings Accum. other comp. income (loss) Less: Treasury stock Total equity Total liabilities and equity $94.0 41.0 261.0 9,920.0 1.983.0 1,135.0 1.053.0 14,487.0 10,035.0 2,275.0 1,122.0 3,027.0 30,946.0 29,993.0 6,268.0 11.677.0 (868.0) 4,944.0 12,133.0 $43.079.0 $41.540.0 $1,002.0 63.0 211.0 9,761.0 2,034.0 840.0 1.103.0 15,014.0 9,255.0 2,004.0 972.0 2,748.0 6,085.0 9,845.0 (805.0) 3,578.0 11,547.0 Footnotes During the year, the company received cash of $338.4 when it sold PP&E with a net book value of $379.4, which gave rise to the $41.0 loss that appears on the income statement. • Total depreciation and amortization expenses of $2,357.0 is made up of depreciation expense of $2.344.0 and amortization expense of $13.0. Check figures: cash flow from operations = $6,728.0; cash flow from investments = $(3,183.0); and cash flow from financing = $(2,524.0). Using the financial statement provided (an Excel spreadsheet with the data is available on Blackboard),. prepare a complete Statement of Cash Flows that shows both the direct method and the indirect method for summarizing cash flow from operating activities. Note to complete the assignment you will need to calculate items such as dividends paid (Retained Earnings & AOClar9 - Net income2019 - Retained Earnings & AOCI2018) and capital expenditures (Net PP&E2018 – Book Value of PP&E Sold019 - Depreciation Expense2019 - Net PP&E2019). Please submit your work via the assignment submission feature in Blackboard. Balance Sheets Income Statement (millions) Cash & equivalents Accounts receivable, net Inventories Other current assets Total current assets Property, plant, & equipment, gross Less: Accumulated depreciation Property, plant, & equipment, net Right-of-use leased assets Other long-term investments Goodwill Other intanqible assets Other noncurrent assets Total assets (millions) Sales 1,100.0 Less: Cost of goods sold Gross profit 2019 $2,577.0 $1,556.0 1,262.0 8,992.0 371.0 13,202.0 45,547.0 44,220.0 Operating profit (EBIT) 19,664.0 25,883.0 2,536.0 137.0 633.0 53.0 635.0 $43.079.0 $41.540.0 2018 2019 $78,112.0 54,864.0 23,248.0 16,163.0 2,357.0 4,728.0 467.0 (18.0) (41.0) 4,202.0 921.0 $3,281.0 9,497.0 366.0 Less: Selling, gen. & admin. expenses 12,519.0 Less: Depr. & amort, expenses 18,687.0 Less: Interest expense 25,533.0 2215.0 10.0 633.0 Other income (expense) Gain/(loss) on sale of assets Earnings before tax Less: Income tax expense Net income 66.0 564.0 Current portion of long-term debt Short-term debt (notes payable) Current operating lease liabilities Accounts payable Other accrued expenses Deferred revenue Other current liabilities Total current liabilities Long-term debt Long-term operating lease liabilities Deferred taxes Other long-term liabilities Total liabilities Common stock and add. paid-in capital Retained earnings Accum. other comp. income (loss) Less: Treasury stock Total equity Total liabilities and equity $94.0 41.0 261.0 9,920.0 1.983.0 1,135.0 1.053.0 14,487.0 10,035.0 2,275.0 1,122.0 3,027.0 30,946.0 29,993.0 6,268.0 11.677.0 (868.0) 4,944.0 12,133.0 $43.079.0 $41.540.0 $1,002.0 63.0 211.0 9,761.0 2,034.0 840.0 1.103.0 15,014.0 9,255.0 2,004.0 972.0 2,748.0 6,085.0 9,845.0 (805.0) 3,578.0 11,547.0 Footnotes During the year, the company received cash of $338.4 when it sold PP&E with a net book value of $379.4, which gave rise to the $41.0 loss that appears on the income statement. • Total depreciation and amortization expenses of $2,357.0 is made up of depreciation expense of $2.344.0 and amortization expense of $13.0. Check figures: cash flow from operations = $6,728.0; cash flow from investments = $(3,183.0); and cash flow from financing = $(2,524.0).

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